Price Trend MT4
This indicator is an attempt to determine the predominant direction of the price movement, both during the period evident trends (uptrend and downtrend), and during flats. The calculation method of this indicator is based on the determination of the highest and lowest prices over a certain time period. The resulting values for each bar are passed through a filter that considers the acceleration and deceleration of the price movement. After that the resulting data is passed through a second filter that filters out insignificant changes in the price. The final result is represented as an indicator.
This indicator has no input parameters.
The principle of determining the direction of price movement:
The blue color of the indicator points to the upward movement
The orange color of the indicator points to the downward movement